Unemployment Rate (Australia)

In February last year, we saw a decline to 4.9% in the Australian unemployment rate which came as a bit of a surprise, but the unemployment rate ticked higher to 5.0% again in March, which was revised higher to 5.1%. In April we saw another increase to 5.2%, so the economic weakness is also being felt in employment. In May, the unemployment rate was expected to decline to 5.1%, but it missed expectations and remained at 5.2%, where it has been since then, but it ticked higher unexpectedly in August. Although, unemployment ticked down to 5.2% again in September, moved to 5.3% again in October, but moved back down to 5.2% in November again and again to 5.1% in December. The unemployment rate stood at that level in February, while in March it ticked higher to 5.2%, but it is expected to jump to 8.3% in April due to coronavirus. Retail sales continued declining to 3.4% but it ticked higher to 3.5% earlier and was expected to move up to 3.6% again in June, but remained unchanged. By November sales moved higher to 3.9% where they are expected to stay in December. Please follow us for live coverage of this event by experienced market analysts.